I predict that Gold will hit $1000 by weeks end

AnkurJ · July 14, 2008 11:39PM

Thoughts?

Does the banking situation have a lot to do with it?

ziggy29 · July 14, 2008 11:43PM

<< Does the banking situation have a lot to do with it? >>

In this particular short-term gyration, almost everything IMO.

HighRelief · July 14, 2008 11:46PM

<< Thoughts?

Does the banking situation have a lot to do with it? >>

Top Story

RedTiger · July 14, 2008 11:48PM

I predict that there will be more predictions on this forum.

Tell me what you are doing, especially if it is something different from what you were doing before. Predictions can be fun and amusing, but at the end of the day, not worth much. Money talks ... well you know the rest ...

AnkurJ · July 15, 2008 12:06AM

<< I predict that there will be more predictions on this forum.

Tell me what you are doing, especially if it is something different from what you were doing before. Predictions can be fun and amusing, but at the end of the day, not worth much. Money talks ... well you know the rest ... >>

As of now? I am still holding on to the Gold I have. Will determine when/if I want to sell it based on how the gold and the dollar perform.

Howdy · July 15, 2008 12:32AM

Only those who now control the World and the US economy know what gold is going to do in the short term. Their plan however to destroy the US economy seems to be right on track with our elected officials helping all they can. Looks like they are going to start another war soon. So, gold should go higher as everything else falls apart. This was all predicted 2000 years ago. Read The Book. There is a comforting solution contained within.

rgCoinGuy · July 15, 2008 12:33AM

12.50 away from 1000 as of now.....

charley · July 15, 2008 12:42AM

The trick is to make the prediction when the event is only 25% complete, not 98.75% complete.

In all due respect, your prediction is diction. With Respect, John Curlis

Howdy · July 15, 2008 12:44AM

True John. We are very close. Spread the word.

ttown · July 15, 2008 12:47AM

Boy let's go out on a limb here...

doh · July 15, 2008 12:48AM

Howdy, this is the not the place for you to preach. Go elsewhere.

charley · July 15, 2008 12:50AM

doh, "doh!" Respectfully, John Curlis

notwilight · July 15, 2008 12:52AM

<< Howdy, this is the not the place for you to preach. Go elsewhere. >>

There will always be conspiracy theory loonies. This one looks like a troll though. --Jerry

ttown · July 15, 2008 12:58AM

<< 

<< Howdy, this is the not the place for you to preach. Go elsewhere. >>

There will always be conspiracy theory loonies. This one looks like a troll though. --Jerry >>

Gold $1000 and the DOW is now a conspiracy? I don't see it.

doh · July 15, 2008 1:03AM

<< Gold $1000 and the DOW is now a conspiracy? I don't see it. >>

That's not what Jerry was referring to.

notwilight · July 15, 2008 1:06AM

Doh's post which I was agreeing with may be misinterpreted because Howdy is the poster, not just a friendly interjection. See Howdy post above. --Jerry

Bear · July 15, 2008 1:09AM

I would like to predict that the sun will rise tomorrow.

Goldbully · July 15, 2008 1:12AM

"Hey kids, what time is it???" It's Howdy Doody Time!!!!

charley · July 15, 2008 1:17AM

Bear, in all due respect, not according to my wife,the evil one, in a message a few minutes ago. I did something else I don't know about(again) and Medusa is waiting for me to get home to challenge your prediction. Respectfully, John curlis

Bear · July 15, 2008 1:22AM

mrearlygold · July 15, 2008 2:04AM

I'll bet a dollar that it doesn't hit $1,000 by the end of the week

gecko109 · July 15, 2008 2:06AM

<< I predict that there will be more predictions on this forum.

Tell me what you are doing, especially if it is something different from what you were doing before. Predictions can be fun and amusing, but at the end of the day, not worth much. Money talks ... well you know the rest ... >>

In the past 2 months, I have sold 95% of my numismatic holdings and have put those dollars into gold and silver. How is that for putting your money where your mouth is?

charley · July 15, 2008 2:11AM

Can I have the other 5% if you are done? I am not proud. I will take leftovers. It will assist me in putting your money where my mouth is. Respectfully, John Curlis

gecko109 · July 15, 2008 2:14AM

<< Can I have the other 5% if you are done? I am not proud. I will take leftovers. It will assist me in putting your money where my mouth is. Respectfully, John Curlis >>

Theres a reason I held on to the other 5%. It includes a 1795 half dollar, an 1806 half dollar, an 1892 Barber quarter, and the 12 piece U.S. gold type set. The two halves were my favorite 2 coins, and couldnt let them go. The quarter was a wedding present from my wife and I to ourselves, and the 12 piece gold type set is just too cool to part with.

rgCoinGuy · July 15, 2008 2:16AM

Weren't you one of the gung ho PM thread bashers before your re-allocation Gecko?

gecko109 · July 15, 2008 2:18AM

<< Weren't you one of the gung ho PM thread bashers before your re-allocation Gecko?

>>

Perspectives change Rob. However, I still dont condone 5 new threads a day on strictly gold prices that I can get right from Kitco's website.

rgCoinGuy · July 15, 2008 2:23AM

Did you say you needed me to resize an icon for you today?

Sorry, carry on everyone else!

SeaEagleCoins · July 15, 2008 2:24AM

<< I would like to predict that the sun will rise tomorrow. >>

Technically, the sun does not rise in the, what we humans refer to as, morning...

The earth spins while turning around a seemingly motionless sun (while in reality we are all hurtling thru space to who-knows-where) ...

This gives "rise" to the notion that the sun rises... it doesn't rise...the earth turns...

Hope that cleared things up a bit...

As for the price of gold... one day it will probably be worth thousands of dollars an ounce... and when/if that happens... gas will be $50 a gallon and a Big Mac will run you $20 or more...

Gold rises and falls in relationship to other elements that also rise and fall... it's value is actually constant... just the number we call that constant is always changing... the eternal quick-hand-trick of Market Economics as we know it...

charley · July 15, 2008 2:32AM

SeaEagleCoins, the sun thing and spinning...you haven't met my wife. The quick- hand -trick thing....my wife again. Respectfully, John Curlis

roadrunner · July 15, 2008 2:38AM

It appears that the PPT came to the rescue around 11 am today and socked it to oil, gold, and silver. Hey, with the president and his chiefs speaking today, we can't have a down dollar day.

I would bet against $1000 by this week. I already dumped one of my gold mutual funds this morning to see what I can get on the pull back. In any case it was a laggard and needed to go. It's been a laggard for too long. This seemed an opportune time to refresh things.

roadrunner

OPA · July 15, 2008 2:48AM

From what I hear ... the Banks are liquidating their winners in order to raise capital, and the Commodities are on top of their list.

roadrunner · July 15, 2008 2:51AM

The banks/brokerages that play heavily in gold (GS, JPM, Merrill, etc) count on taking their profits during the hype only to buy back after the slam down. The PPT tells them it is time to sell.......and they sell.

roadrunner

BECOKA · July 15, 2008 8:24AM

I suspect it will hit $999 and dive.

luckyman · July 15, 2008 8:47AM

I read, I study the trends on Kitco, the Dow, overall markets, I read some more, study trends more, and I still don't get it. The dollar's down

to 40% of the Euro, oil is way up, the dow is way down, nasdaq the same, banks are in tremendous trouble with liquidity, government

bailouts loom large on the horizon, the whole time gold stays relatively stagnant, platinum is on a virtual roller coaster....I really don't see

what holds this all together.....admittedly, I'm not an economist (don't even play one on t.v.) but how can anyone predict what's going to

happen with pm prices? It seems they should be soaring tremendously since everything else, as I've stated, has devalued so dramatically...

Someone explain this to me like I'm a child (to paraphrase Denzel in a courtroom scene in the movie "Philadelphia") Thanks

Now you experts have the floor

jdimmick · July 15, 2008 10:40AM

I predict a short term drop back below 900 within a few days!

DoubleEagle59 · July 15, 2008 11:03AM

I don't know how soon it's going to take to get to $1000, but I like your thinking

7over8 · July 15, 2008 11:33AM

we'll be looking at 1200 by year end

cant agree on 1G at the end of the week, but it is in a steady up channel now.....

no pullback to 900. thats over. support around 940.

most of the firms mentioned might not be around next year,

roadrunner · July 16, 2008 7:46AM

Agree that $940-$955 should be the new range for buying back in. I don't see sub $900 gold this year or next year.

For those still sitting out since March, either hop on soon or stand aside as we head through $1000 on the next ramp up....towards $1200.

But it's good to see that the FED fixed the banks just like they did back in March.

roadrunner

ziggy29 · July 16, 2008 7:48AM

<< The banks/brokerages that play heavily in gold (GS, JPM, Merrill, etc) count on taking their profits during the hype only to buy back after the slam down. The PPT tells them it is time to sell.......and they sell. >>

But this time it's different because oil is selling off along with PMs. In the past, it looked rigged because gold would fall hard even when the dollar dropped and oil spiked. But with oil selling off even harder than gold, I think there was more than the PPT at work this time.

dizzyfoxx · July 16, 2008 7:49AM

<< I suspect it will hit $999 and dive.

>>

I'll say .99 cents above that estimation, not a penny more.

timcoin · July 16, 2008 8:21AM

Please don't follow this, but my observation of gold prices over the past few years is that if gold closes lower Tuesday than it did on Monday, it will end down for the week, with Friday usually being the biggest drop day. If it closes higher on Tuesday than it did on Monday, it will end up for the week with Friday being the biggest jump day. So, if my observation holds true this week, Friday might be a tough day for PM prices. Follow the prices for the next couple of month and see if you notice the same trend.

RedTiger · July 16, 2008 8:26AM

<< 

<< I predict that there will be more predictions on this forum.

Tell me what you are doing, especially if it is something different from what you were doing before. Predictions can be fun and amusing, but at the end of the day, not worth much. Money talks ... well you know the rest ... >>

In the past 2 months, I have sold 95% of my numismatic holdings and have put those dollars into gold and silver. How is that for putting your money where your mouth is? >>

Wow. Let's see how this works out. Maybe the forum will have another indicator, the Gecko indicator. So far it looks like you are up, so right now it is confirming indicator (vs. a contrarian indicator).

bluelobster · July 16, 2008 8:36AM

Howdy, who are they? inquiring minds want to know

BTW .... I love contrary indicators!

roadrunner · July 16, 2008 10:04AM

But this time it's different because oil is selling off along with PMs. In the past, it looked rigged because gold would fall hard even when the dollar dropped and oil spiked. But with oil selling off even harder than gold, I think there was more than the PPT at work this time.

Oil and gold certainly aren't hard linked by any means. One analyst mentioned the fact that the US reserves were up by 3 MILL gallons this past week, which helped to induce some selling. While that may be, it didn't fix anything nor did the FED this past week by essentially nationalizing FanFred. In any case the PPT was hard at work this week whether or not they had time to short sell oil along with their favorites, gold and silver. The massive down spikes in gold shortly after US open are textbook PPT moves. If you chart the NYMEX gold price over many years you will notice that the pog during the first 2 hours of opening have shown gold DOWN on average over many years. That is a remarkable feat for a metal that has tripled in price in that time and has averaged up in the PM trading. No other world gold exchange can claim that feat - they show gold up in the AM and PM over the long term. Just another PPT "fun fact."

roadrunner